Average Cost of Cyberattack Now Exceeds $1 Million
According to new research by Radware, an average cyberattack now costs over $1 million. If only exact calculations of costs for organziations are taken into account and estimates are omitted, the average cost of an attack is $1.67M. The most reported negative consequences of suffering a cyberattack are operational disruption and reputation loss.
Respondents indicated that 45% of cyberattacks aimed at denial-of-service (DoS) and 35% were attempts to steal data. While nearly all organizations in the survey suffered some kind of cybersecurity incident, one-third of them have not implemented a cybersecurity emergency response plan.